New Issue: Morgan Stanley prices $2.94 million buffered PLUS tied to Russell, S&P

By William Gullotti

Buffalo, N.Y., Jan. 31 – Morgan Stanley Finance LLC priced $2.94 million of 0% buffered Performance Leveraged Upside Securities due March 2, 2023 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above the initial level, the payout at maturity will be par plus 150% of the gain of the lesser performing index capped at 17.1%.

If either index falls by up to 10%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying indexes:	S&P 500, Russell 2000
Amount:	$2,944,000
Maturity:	March 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 150% of return of lesser performing index capped at 17.1%; if either index falls by up to 10%, par; otherwise, 1% loss for each 1% decline of the worst performer beyond 10%
Initial levels:	4,397.94 for S&P, 1,987.918 for Russell
Buffer levels:	3,958.146 for S&P, 1,789.126 for Russell; 90% of initial levels
Strike date:	Jan. 21
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61773HJ59

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